What does the term 'Value Stream Mapping' refer to?

Value Stream Mapping is primarily defined as a tool for visualizing and analyzing the flow of materials and information throughout the various stages of a process. This technique allows organizations to identify the value-added and non-value-added activities involved in the production or service delivery processes.

By creating a visual representation of the current state of a process, teams can gain insights into how materials and information move, where delays or waste occur, and what improvements can be made. This helps in streamlining operations, enhancing efficiency, and ultimately delivering greater value to customers.

In contrast, improving team communication focuses on interpersonal dynamics rather than the structural flow of processes. Tracking inventory levels is important for operational control but does not involve the comprehensive mapping and analysis that characterizes value stream mapping. Setting sales goals is an essential aspect of business strategy but is unrelated to the analysis of operational workflows or process improvement.